Jason Zweig: Temperament Is Everything for Most Investors
The Long View
Why Temperament Trumps Intelligence for Most Investors
Jason Zweig highlights temperament, self-control, and avoiding self-delusion as the primary drivers of investment success.
Our guest on the podcast this week is The Wall Street Journal columnist and author Jason Zweig. Jason became a personal finance columnist for The Wall Street Journal in 2008. His weekly column, “The Intelligent Investor,” is a must-read for people inside and outside of the investment industry. Jason is also the editor of the revised edition of Benjamin Graham's The Intelligent Investor. And he is the author of Your Money and Your Brain, which explores the neuroscience of investing. He also wrote the Devil's Financial Dictionary, which is a satirical glossary of Wall Street.
Background
Jason’s twitter handle: @jasonzweigwsj
Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich
The Devil’s Financial Dictionary
Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
Life and Fate by Vasily Grossman
Palace Walk: The Cairo Trilogy by Naguib Mahfouz
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel
Matt Levine, Bloomberg Opinion Columnist
Jesse Livermore, Philosophical Economics
Nick Maggiulli, Ritholtz Wealth Management
Michael Batnick, Ritholtz Wealth Management
Ben Carlson, Ritholtz Wealth Management
Joe Weisenthal, Bloomberg
Tracy Alloway, Bloomberg
Robin Wigglesworth, Financial Times
Research Institute: Credit Suisse Global Investment Returns, Yearbook 2021 Summary Edition
Georgarakos, D. & Pasini, G. 2011. “Trust, Sociability and Stock Market Participation,” Review of Finance, Vol. 15, No. 4, P. 693.
Thinking, Fast and Slow by Daniel Kahneman
“Investment Policy and the Competent Stranger,” speech by Charles D. Ellis, empireclub.org, April 7, 1988.
Feynman, R.P. 1974.“Cargo Cult Science,” Engineering and Science.
Investing
“Stock Market 101: Teaching the Wrong Lessons?” by Jason Zweig, Jasonzweig.com, May 8, 2015.
“How to Keep Your Cool When Markets Are Sizzling,” by Jason Zweig, wsj.com, April 23, 2021.
“Why You Shouldn’t Buy Bitcoin When You’re Hungry,” by Jason Zweig, wsj.com, May 21, 2021.
“You Can’t Invest Without Trading. You Can Trade Without Investing,” by Jason Zweig, wsj.com, June 18, 2021.
“Robinhood Trader’s Battle Cry: ‘It’s All Just a Game to Me,' " by Jason Zweig, wsj.com, March 26, 2021.
“Jason Hsu: China Is ‘the Last Great Remaining Alpha Reservoir,' " The Long View Podcast, morningstar.com, April 20, 2021.
ETFs and Index Funds
“The Stock Got Crushed. Then the ETFs Had to Sell,” by Jason Zweig, Jasonzweig.com, Jan. 31, 2020.
“The Story Behind the Market’s Hottest Funds,” by Jason Zweig, wsj.com, Jan. 15, 2021.
“ETFs: What They Are and How They Can Fit Into Your Investment Portfolio,” by Jason Zweig, wsj.com, May 20, 2021.
Retirement
“Jason Zweig’s Proposal to Scrap 401(k)s,” by John Rekanthaler, Morningstar.com, Feb. 26, 2019.
“Wishful Thinking in a World Without Yield,” by Jason Zweig, wsj.com, June 18, 2021.
“The Safe, High-Return Trade Hiding in Plain Sight,” by Jason Zweig, wsj.com, May 28, 2021.
“The Funds That Make You Buy Low and Sell High,” by Jason Zweig, wsj.com, Aug. 30, 2019.
Financial Advice
“The Intelligent Investor: Saving Investors From Themselves,” by Jason Zweig, wsj.com, July 1, 2013.
“The First Line of Investing Defense? You,” by Jason Zweig, wsj.com, March 8, 2019.
“Looking for a Financial Planner? The Go-To Website Often Omits Red Flags,” by Jason Zweig and Andrea Fuller, wsj.com, July 30, 2019.
“Financial Advisor Fee Trends and the Fee Compression Mirage,” by Michael Kitces, kitces.com, Feb. 8, 2021.
“Want to Get Rich Quick? Who Can Stop You?” by Jason Zweig, wsj.com, May 7, 2021.
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